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cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- the increase in the debt limit for cuts? >> are i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> thank you, mr. speaker. >> speaker boehner speaking to the press outside of the offices on capitol hill. not really yielding any information, though. the intransigence it seems on both sides continues. but it definitely co
cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had...
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you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why are we doing it in 29 days? >> but the president ran on raises taxes, right? if you look at the polls. 60% of people support raising taxes on people who make over $250,000 a year. how much of a problem is it, david, if the republicans you know, tom coburn said he does not want to raise that tax number. >> the president ran on his first term on opposing a health care mandate. he was against that. presidents change their minds. the idea that you would do a revenue measure with an eye to basically doing something punitive, when there are much more important policy goals you can achieve and when it's
you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why...
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there's not -- >> you'll go off the fiscal cliff if the republicans say, sorry, no way are we going to raise rates for the -- on the wealthy. you guys are willing to go off -- >> if republicans are not willing to let rates go back up and we think they should go back to the clinton levels, the time when the american economy was doing exceptionally well, there will not be an agreement. >> you would be willing to let that happen? >> let me explain why. if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then that's a choice they're going to have to make, but they'll own the responsibility. >> but it is kind of a choice the country will have to pay for, correct? is there some pontiac for you all. you would let that happen. fine, you don't want new tax rates. we're out of this. >> what we're trying to do is to get them to come together and join us and doing something that's good for the american economy, and we recognize that's going to require spending savings, not just revenue increases on the top wealthie
there's not -- >> you'll go off the fiscal cliff if the republicans say, sorry, no way are we going to raise rates for the -- on the wealthy. you guys are willing to go off -- >> if republicans are not willing to let rates go back up and we think they should go back to the clinton levels, the time when the american economy was doing exceptionally well, there will not be an agreement. >> you would be willing to let that happen? >> let me explain why. if they are going to...
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cliff unless both sides agree to raise rates on the wealthiest. that means raise tax rates for top earners. the reason that this is news is because there's been discussion publicly that perhaps they could find a rev new agreement where it would just involve capping deductions or maybe they could get to revenue just through tax reform, and with this piece of detail from that phone call yesterday, it would seem that the democrats, the president personally, is drawing a line saying those other ways are not enough. his campaign message that the top earners have to pay more, he is sticking to that line many these negotiations. >> jess, do we know how the republicans responded to this red line? >> well, speaker boehner was frustrated, wrovl, and came out with -- in his press conference today basically accusing the president of not leading on the issue. both sides are calling for the white house to come forward with spending cuts first, tell us where you are going to cut spending, before we, the republicans, will say whether we'll go along with you on ta
cliff unless both sides agree to raise rates on the wealthiest. that means raise tax rates for top earners. the reason that this is news is because there's been discussion publicly that perhaps they could find a rev new agreement where it would just involve capping deductions or maybe they could get to revenue just through tax reform, and with this piece of detail from that phone call yesterday, it would seem that the democrats, the president personally, is drawing a line saying those other...
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. >> senator rubio weighing in on the fiscal cliff debate and the idea of raising tax rates for the wealthy saying we need to make poor people richer, not rich people poorer. soledad. >> that's the kind of thinking that will get you votes, right? >> all right. thanks, zoraida. >> new york city police could be close to charging a suspect in that fatal subway push. they say a man is now being questioned and has implicated himself in this case. a front page "new york post" photo has become the source of a lot of controversy. it shows the victim desperately trying to climb up from the tracks as the train approaches. this morning we're hearing that the photographer has said some things in his own defense. cnn's mary snow has more on this report. >> [ bleep ] alone. take your [ bleep ] over there. >> reporter: why exactly these men were fighting is unclear. but moments after this video obtained by the new york police was record 58-year-old ki-suck han whose face is obscured, was pushed on to the tracks, police say, by the man yelling at him. subway barreling through the station killed han with ho
. >> senator rubio weighing in on the fiscal cliff debate and the idea of raising tax rates for the wealthy saying we need to make poor people richer, not rich people poorer. soledad. >> that's the kind of thinking that will get you votes, right? >> all right. thanks, zoraida. >> new york city police could be close to charging a suspect in that fatal subway push. they say a man is now being questioned and has implicated himself in this case. a front page "new york...
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you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why are we doing it in 29 days? >> but the president ran on >> the republicans must agree to higher tax rates on well off americans. all the way to the 39.6 that the president, they have to. that's the ticket for admission because the president won the election and campaigned on that. the democrats are going to have to agree. they'll use euphemisms, but agree to cutting medicare and medicaid. and by the way, that means cutting for seniors and poor people and special needs kids. that is not an easy thing to ask anybody to do, let alone the democratic party. which really created these programs. this is
you've got to be for a tax rate increase or we will go over this fiscal cliff. >> no, you don't. you could raise from a carbon tax of $20 a ton, which will deal with, we are having the biggest record carbon levels. you could raise -- at 4% a year over the next ten year, twice as much as you could from allowing the bush tax rates to lapse. why the income tax system is overburdened in the united states. we use it too much. we should be looking at other taxes. we can't do it in 29 days. why...
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cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all those americans, too, get a tax cut on the first $250,000 of their income. so, in some sense it's a tax cut for all americans. >> reporter: bottom line, anderson, we're talking today but still at stalemate. >> yeah, i mean, it's a sign, jessica and dana, of just how lack -- how little progress there's been that a phone call is big news between these two. dana, we're also hearing hints of some move between republicans, coburn, olympia snowe. what are you hearing? how significant is it? >> reporter: it's significant for a couple reasons. you're right. three republicans in different ways suggested they would be okay with what most republicans are saying, that they're not okay with, which is raising tax rates for the wealthiest. tom is
cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all those americans, too, get a tax cut on the first $250,000 of their income. so, in some sense it's a tax cut for all americans. >> reporter: bottom line, anderson, we're...
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let's hope we don't go over that fiscal cliff. >> fingers crossed they will reach a compromise. i don't think there's anyone out there that wants to see us go over that fiscal cliff. >> that would be bad. but the clock is ticking. only a few weeks left. >>> the biggest problem between the united states and mexico and how to solve it. i'll speak with mexico's new president. my exclusive interview is just ahead. this line is a convenienc. how you doing today? i'm good thanks. how are you? i'm good. [ gordon ] but for others, it's all they can afford. every day nearly nine million older americans don't have enough to eat. anything else? no, not today. join me, aarp, and aarp foundation in the drive to end hunger by visiting drivetoendhunger.org. i tell them dentures are very different to real teeth. they're about 10 times softer and may have surface pores where bacteria can grow and multiply. polident is specifically designed to clean dentures daily. its unique micro-clean formula kills 99.9% of odor causing bacteria and helps dissolve stains, cleaning in a better way than brushing
let's hope we don't go over that fiscal cliff. >> fingers crossed they will reach a compromise. i don't think there's anyone out there that wants to see us go over that fiscal cliff. >> that would be bad. but the clock is ticking. only a few weeks left. >>> the biggest problem between the united states and mexico and how to solve it. i'll speak with mexico's new president. my exclusive interview is just ahead. this line is a convenienc. how you doing today? i'm good thanks....
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cliff negotiations, deficit reduction. not hearing specifically about mortgage interest deduction but hearing about closing the loopholes. republicans say this is what's on the table from the white house. raising marginal tax rates on the very rich. extending both the social security payroll tax break and unemployment benefits for next year. the government wants to -- the white house wants to defer the sequester for a year and then launch this new multi-year stimulus package that would be at least $50 billion last year, infrastructure spending. also get this, a permanent increase in the debt limit, and they would take the debt ceiling approval away from congress. robert reich, do you have any problems with all of these things? >> well, most of them are steps in the right direction. i think that actually taking the debt ceiling approval away from congress sounds radical but it really isn't. that's a technicality. you don't want the debt ceiling ever to be negated. you are don't want congress to ever say no because that's th
cliff negotiations, deficit reduction. not hearing specifically about mortgage interest deduction but hearing about closing the loopholes. republicans say this is what's on the table from the white house. raising marginal tax rates on the very rich. extending both the social security payroll tax break and unemployment benefits for next year. the government wants to -- the white house wants to defer the sequester for a year and then launch this new multi-year stimulus package that would be at...
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. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slouw dow the economy. it would. there's no question about it. but if the problem is that we hav
. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting point? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are...
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really bet the country by going over this fiscal cliff. >> crazy? betting the country? well, according to the congressional budget office, bowles has a good reason for saying what he did. the economy would go into a recession, economic output would drop and unemployment rate would go back up to 9.1% by the end of next year. now, the clock is ticking. john and harry, get out of the sand box. 33 days are left. peter difazio of oregon is "outfront" tonight. let me just get a response from you about timothy geithner's plan that he put on the table. 1.6 trillion in revenue. $400 billion in cuts. i'm a little confused because the president said he will give $2.50 in spending cuts for every dollar in revenue. this is, this is the opposite. >> well, finally, the white house has learned not to negotiate with itself, but with the opposition, which is the republicans. remember, there is no real cliff. on january 1st, the only thing that goes away is the social security tax holiday and nobody is seriously talking about continuing that. all the other tax increases don't take place u
really bet the country by going over this fiscal cliff. >> crazy? betting the country? well, according to the congressional budget office, bowles has a good reason for saying what he did. the economy would go into a recession, economic output would drop and unemployment rate would go back up to 9.1% by the end of next year. now, the clock is ticking. john and harry, get out of the sand box. 33 days are left. peter difazio of oregon is "outfront" tonight. let me just get a...
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on the fiscal cliff. >> how does it play into fiscal cliff negotiation? >> you would think it gives them a sobering sense of if we do the right thing, maybe the economy keeps growing, if we do the wrong thing, might tip the united states. some think even the possibility of another global recession. you would think it would be a motivation to get things done. if you listen to what's said publicly, see if they're working out a deal privately, there are staff level conversations but most of the big voices dug in. >> you had a fascinating interview with the head of the international monitoring fund, it will air sunday on "state of the union." let me play a clip. what happens in fiscal cliff negotiations in washington could have a huge impact around the world. >> there's still that degree of uncertainty that fuels doubt, that prevents investors, entrepreneurs, households from making decisions because they don't know what tomorrow will be. they know that a fix has been found for today but there is still work to be done tomorrow and day after tomorrow. so it wou
on the fiscal cliff. >> how does it play into fiscal cliff negotiation? >> you would think it gives them a sobering sense of if we do the right thing, maybe the economy keeps growing, if we do the wrong thing, might tip the united states. some think even the possibility of another global recession. you would think it would be a motivation to get things done. if you listen to what's said publicly, see if they're working out a deal privately, there are staff level conversations but...
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turn to the fiscal cliff, i know you don't want to get clinical or partisan, or even talk about this ridiculous phrase "fiscal cliff," just in your dealings with the financial issues for the last 30 or 40 years, what is your view about taxation, generally. doesn't america suffer when taxes are slightly higher in terms of economic prosperity? or is that just a bit of a myth? >> well, i think there are a lot of theories running around out there. and i have the formal education, and finance degree so i studied economics like a lot of us did. i was formally taught, the proper way is that way. that seems to be the direction of the obama administration, the idea to raise taxes. and the government control the reinvestment interest the economy. really, there is not much evidence that that has worked. it didn't work under obama or bush, even an argument it didn't work under fdr, which is where it came from. that probably world war ii bailed us out of the economic slump, probably called the great depression, rather than that. i am a sophisticated guy, i don't have a lot of sophisticated looks
turn to the fiscal cliff, i know you don't want to get clinical or partisan, or even talk about this ridiculous phrase "fiscal cliff," just in your dealings with the financial issues for the last 30 or 40 years, what is your view about taxation, generally. doesn't america suffer when taxes are slightly higher in terms of economic prosperity? or is that just a bit of a myth? >> well, i think there are a lot of theories running around out there. and i have the formal education,...
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cliff y if if the cliff exists at all. call them cliff deniers. leading directly to the loss of america's aaa credit rating. listening to them again would be the definition of insanity. john who has a ph.d. in instaneny co-author of "deadline artists." i was in d.c. this week and struck by there is one track going on of negotiations, the track you're seeing on television. not the smoke filled back rooms at this point. they're not there yet. usually i complain about the deals happening and the scenes. there is no behind the scenes and that scares me. >> and it should. look right now we are in the stage of public positional bargaining and both sides making opening bids that the other side dismisses as not serious. but, of course, this is serious. this is a self-inflicted crisis. and washington is playing fiscal with the fiscal cliff. -- playing chicken with the fiscal cliff. this deal will only get done by president obama and john boehner making a deal. they came close in the summer of 2011. the parties are so polarized and
cliff y if if the cliff exists at all. call them cliff deniers. leading directly to the loss of america's aaa credit rating. listening to them again would be the definition of insanity. john who has a ph.d. in instaneny co-author of "deadline artists." i was in d.c. this week and struck by there is one track going on of negotiations, the track you're seeing on television. not the smoke filled back rooms at this point. they're not there yet. usually i complain about the deals happening...
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so until the republicans agree to those clinton-era rates, we are going to go off the fiscal cliff. >> you know, it's interesting, ari, you'll remember this because you were the white house press secretary in 2001 and 2003 when those bush-era tax rates were approved basically by republicans, very few democrats voted to approve those bush-era tax cuts. so why not do what the republican congressman from oklahoma says, what paul just said, go ahead, declare victory. say, look, all these democrats are now on board, they support for 98% of the american people the bush-era tax rates for a long time to come, declare victory and move on. >> well, number one, wolf, actually those tax cuts were bipartisan. 12 senators -- democratic senators voted for them, a good number. more than 60 senators voted for the bush tax cuts across the board. number two, let me surprise you with this, i don't agree by going over the fiscal cliff, but i do agree that the smart move for the americans to make they don't have leverage on the taxes. the payroll tax cut about to expire and it did expire, republicans tucke
so until the republicans agree to those clinton-era rates, we are going to go off the fiscal cliff. >> you know, it's interesting, ari, you'll remember this because you were the white house press secretary in 2001 and 2003 when those bush-era tax rates were approved basically by republicans, very few democrats voted to approve those bush-era tax cuts. so why not do what the republican congressman from oklahoma says, what paul just said, go ahead, declare victory. say, look, all these...
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. >>> in raw politics, with the country one day closer to the fiscal cliff, president obama took his case to the public today. he used an event in pennsylvania to rachet up the pressure on republicans to freeze taxes for the middle class while allowing the tax rates on the wealthy to go up. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> hm. in other words, the day after the white house puts its opening bid on the table, the president comes out swinging. that opening bid didn't have a whole lot of concessions in it to the republicans, and the republicans reacted as many would have predicted. they were mad. basically saying that offer was an insult. today, house speaker john boehner doubled down. >> it was not a serious proposal. and so right now, we're almost nowhere. >> that doesn't sound good. republican congressman lee terry of nebraska was just as succinct but how shall i say this? more colorful. he told the omaha world he
. >>> in raw politics, with the country one day closer to the fiscal cliff, president obama took his case to the public today. he used an event in pennsylvania to rachet up the pressure on republicans to freeze taxes for the middle class while allowing the tax rates on the wealthy to go up. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1st. that's sort of like the lump of coal you get for christmas. that's a...
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house republicans today did offer a counter proposal on the fiscal cliff. their plan, $2.2 trillion deficit savings over the next decade, but it does not include higher tax rates for the wealthy. the house speaker john boehner calls it a credible plan that deserves serious consideration by the white house. guess what? the white house released a statement tonight saying the plan is nothing new, that it lowers rates for the wealthy and sticks the middle class with the bill. so to borrow a phrase, we're nowhere. period. david walker is president and ceo of comeback america initiative. he's made it his mission to promote fiscal responsibility. he joins us along with cnn political analyst, david gergen. the house republicans put forward their counter proposal. speaker boehner says it's credible and the white house should consider it. is it credible or is it more of what you have called the irresponsible unethical immoral behavior of all the politicians here in washington? >> i think both sides are now putting things on the table but i think they're confused. wha
house republicans today did offer a counter proposal on the fiscal cliff. their plan, $2.2 trillion deficit savings over the next decade, but it does not include higher tax rates for the wealthy. the house speaker john boehner calls it a credible plan that deserves serious consideration by the white house. guess what? the white house released a statement tonight saying the plan is nothing new, that it lowers rates for the wealthy and sticks the middle class with the bill. so to borrow a phrase,...
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that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much better. >> right. i heard your lead-in on it, and you said this is a new idea floated by howard dean. ints a new idea. several democrats have floated that a while. the code word is going back to the clinton tax rates and talk about the clinton economy and we should go back to the clinton tax rates. what that means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. so it's not new, and no, i don't support that. i don't think that's a great idea at all. it will slow down the economy. >> all right. the truth is when you look at economists' evaluations, it will slow down t
that were there when i was predz. >> with now break through today and the fiscal cliff negotiations, is this a starting point? "outfront" republican congressman james langford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. good to see you, sir. appreciate you taking the time. what about this idea of raising taxes on everyone? the math actually in this case is much more promising. it works much better....
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cliff, they really believe that republicans will get the blame. so that's why maybe they are sort of running out the clock a little bit making it harder for republicans to negotiate more at the end of the day. >> so just to make it clear, because the republican plan does not include a tax increase, a tax increase on the wealthy, the president isn't going to deal? he's not going to get on the phone with john boehner, he's not going to do anything? >> reporter: well, it's hard to imagine at some point that they are not going to get on the phone, that they are not going to have real negotiations. but right now, they are not. and so that's why the house republican leadership says they are just sending their members home. and they also say, the speaker didn't mention it here but one thing they want their members to do back in their districts is to try to galvanize the public's support for their position that the president is trying to do for his position as he campaigns on that. but you're exactly right and it's important to underscore this over and ov
cliff, they really believe that republicans will get the blame. so that's why maybe they are sort of running out the clock a little bit making it harder for republicans to negotiate more at the end of the day. >> so just to make it clear, because the republican plan does not include a tax increase, a tax increase on the wealthy, the president isn't going to deal? he's not going to get on the phone with john boehner, he's not going to do anything? >> reporter: well, it's hard to...
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house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> the administration has presented a plan that calls for $1.6 trillion in new tax revenues. $400 billion in cuts to medicare and other entitlements. $50 billion for a new stimulus and congress would have to give up control over raising the debt limit. republicans have indicated that they want to raise revenue by lowering tax deductions, haven't given any specifics yet. brings us right to white house correspondent brianna keilar. good morning, brianna. >> good morning to you, soledad. yes, things are at an impasse here. i will tell you the white house after not being very happy with the pace of negotiations the week before last sent treasury secretary tim geithner up to the hill to outline this proposal. there's a lot we already knew about that president obama had already taken
house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. it's unfortunate that the white house has spent three weeks doing basically nothing. >> the administration has presented a plan that calls for $1.6 trillion in new tax revenues. $400 billion in cuts to medicare and other entitlements. $50 billion for a new stimulus and...
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lost it's favored credit rating. they say the economy's actually expanding, but they're still really worried about, you know, the fiscal cliff. >>> and now our fourth story "outfront" for the second day in a row, susan rice met with republican senators, some of whom obviously have harshly criticized her for her handling of the attack in benghazi. the moderate susan collins spoke to us. >> i still have many questions that remain unanswered. i continue to be troubled by the fact that u.n. ambassador decided to play what was essentially a political role at the height of a contentious presidential election campaign. >> yet the president continues to stand by susan rice. >> susan rice is extraordinary. couldn't be prouder of the job that she's done at the u.n. >> all right, tim, when you hear senator collins, you know, she is influential, she is moderate, come out and say look, i'm not satisfied, sort of turning her back on susan rice, she had the moment in front of the microphone to endorse, she did not. should the admin
lost it's favored credit rating. they say the economy's actually expanding, but they're still really worried about, you know, the fiscal cliff. >>> and now our fourth story "outfront" for the second day in a row, susan rice met with republican senators, some of whom obviously have harshly criticized her for her handling of the attack in benghazi. the moderate susan collins spoke to us. >> i still have many questions that remain unanswered. i continue to be troubled by...
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fiscal cliff still hanging over us. markets, at least, are telling us that we think washington will get its act together, avert the fiscal cliff and like what they see from the jobs report this morning. >> my goodness. that's optimism there. can you talk to me a little more about this job market shrinking and that maybe why the unemployment rate dropped? >> two surveys that the government takes, household survey where they call thos thousands of people at home and ask, are you working? that's the number that gives us the unemployment rate. they also talked to thousands and thousands of companies and they say how many jobs do you have? how many jobs have you added? that's how you get that net job creation number up 146,000. when the government calls people up and they say i'm not working or i've dropped out of the labor market or whatever, you can see just how big the labor market is. we know that there are some, i think, 300,000 some people who have dropped out of the labor market. they've either dropped out. they could
fiscal cliff still hanging over us. markets, at least, are telling us that we think washington will get its act together, avert the fiscal cliff and like what they see from the jobs report this morning. >> my goodness. that's optimism there. can you talk to me a little more about this job market shrinking and that maybe why the unemployment rate dropped? >> two surveys that the government takes, household survey where they call thos thousands of people at home and ask, are you...
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fiscal cliff as a three-part problem. part one taxes. in the new year, taxes go up on everyone unless washington takes action. the government needs more money. president obama wants to get some of it from the top 2% of wage earners. he wants to raise their tax rate and limit how much they can deduct. the white house says this will bring in $1.6 trillion over ten years. >> that's what the american people have voted for. >> republicans say they'll agree to bring in more money, but not by raising tax rates. in fact, they want to lower tax rates for everyone. instead they'd raise money only by limits deductions and closing loopholes. speaker boehner says this will raise $800 billion over ten years. >> america faces a serious problem. our goal is to make sure it gets solved. >> step two, avoiding the drastic spending cuts that begin on january 1st, the so-called sequester. both sides want to find savings in medicare, but disagree about how to do it. >> we need a responsible white house. we can't sit here and negotiate with our
fiscal cliff as a three-part problem. part one taxes. in the new year, taxes go up on everyone unless washington takes action. the government needs more money. president obama wants to get some of it from the top 2% of wage earners. he wants to raise their tax rate and limit how much they can deduct. the white house says this will bring in $1.6 trillion over ten years. >> that's what the american people have voted for. >> republicans say they'll agree to bring in more money, but not...
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whether political theater or political reality, there's more mention going over the fiscal cliff could go beyond hypothetical. >> there's clearly a chance. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then, you know, that's the choice they're going to have to make. >> emily joins us live from washington. emily, the zinger sound bites, they're all piling up. what is the actual strategy behind all this political theater? what are you hearing from the republicans and from the democrats? >> reporter: you know, less than a month out now from going over the fiscal cliff. even talk about political strategy sounds an awful lot like posturing. we heard it from secretary geithner who said republicans seem to be in a hard place on this, not knowing what to do next. speaker boehner said, look, democrats won the election but they seem to have forgotten that republicans still control the house. at this point
whether political theater or political reality, there's more mention going over the fiscal cliff could go beyond hypothetical. >> there's clearly a chance. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then, you know, that's the choice they're going to have to make. >> emily joins...
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. >> should there be a compromise in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next year anticipating what's going to happen. we can fix this christmas eve if we want, but we've already hurt the economy and job growth. >> are you with boehner? >> i'm not with boehner. this government doesn't need anymore money. this country needs less government. we're going to have historic levels of revenue to the government this year. >> everyone's taxes are going up at the end of the year if there's no deal. >> we have already offered to extend current tax rates. that's what we should have done six months ago until we could come to some agreement, some compromise on tax reform. >> wh
. >> should there be a compromise in order to avoid going over the fiscal cliff? john boehner's already $800 billion in increased tax revenue, not necessarily raising the marginal tax rate on the wealthy, but capping deductions, limiting loopholes, are you with the speaker of the house on that? >> unfortunately, wolf, the policies of president obama have already taken us over the cliff. if you meet with businesses like i do all the time, they've already paired back plans for next...
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we'll go off the fiscal cliff, down the fiscal slope. yes i think it will happen because it is the one way republicans can, without violating the pledge, and offending the grand inquisitor grover norquist, it's the one way they can let this happen. >> and, in fact, you know, what could happen, you can imagine a scenario where you go off the cliff on taxes, rates go up for everybody, you then vote to restore the rates for the vast majority of taxpayers, 98%, and further it is even conceivable you negotiate down the top rates in the level under bill clinton a little bit by putting in the pot offsetting deductions for credits which would allow republicans to claim some sort of victory as well. that could be a scenario where you have a consensus on the tax run. >> let's run all of this by representative xavier becerra of california. he's joining us now. nice to see you, sir 367 appreciate your time. what is really the white house dismiss kind of out of hand i mean i don't have the exact number of minutes that they had this republican proposa
we'll go off the fiscal cliff, down the fiscal slope. yes i think it will happen because it is the one way republicans can, without violating the pledge, and offending the grand inquisitor grover norquist, it's the one way they can let this happen. >> and, in fact, you know, what could happen, you can imagine a scenario where you go off the cliff on taxes, rates go up for everybody, you then vote to restore the rates for the vast majority of taxpayers, 98%, and further it is even...
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. >> well, nobody wants anyone to go off the fiscal cliff. and the reality is we have to look over the last two years. the republican party established themselves as the party that was willing to let americans entire credit rating go down the tubes in order to stop barack obama last year. it's very clear that most people are going to see them as being the party that's being more obstinate. the truth of the matter is they also because they lost so badly in the election, nobody wants to be seen playing footsie with barack obama under the table which is what they're going to have to do to get this deal done. the republican party is going tond up being blamed which is one of the reasons they will have to compromise more. it's the same thing the democrats did when bush won. you have to compromise with the party that just won. jason johnson, john brabender, thank you thank you both. >>> the new york film critics have made their choices for top films and many times they end up as oscar favorites. all the details next. all the details next. we are ga
. >> well, nobody wants anyone to go off the fiscal cliff. and the reality is we have to look over the last two years. the republican party established themselves as the party that was willing to let americans entire credit rating go down the tubes in order to stop barack obama last year. it's very clear that most people are going to see them as being the party that's being more obstinate. the truth of the matter is they also because they lost so badly in the election, nobody wants to be...
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this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as disappointed as the speaker is right now. i understand some of his problem with this. but the fact of the matter is the american people ended elections on november 6th, voiced their approval of president obama's approach to this. over 3 million more people voted for him than voted for mr. romney. and then if you look at house democr democrats. only 201 of us got eelected. that means the rest were republicans. >> i understand that. >> but over 500,000 more votes than they got -- >> with all due respect, representative, we understand that the president won and you fe
this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as...
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who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we take a dive off that cliff? even though president obama and john boehner chatted on the phone, there's still no deal. republicans are not amused. >> incredibly, many top democrats, including the president, seem perfectly happy. perfectly happy to go off the cliff. that's why the president has been more interested in campaign rallies than actually negotiating a deal. >> many americans don't have much hope the two side also come up with a deal. they've moved on already to plan b. the retired teacher in utah has put off plans to get a new car. brian chandler,
who will blink first on the fiscal cliff? not the obama administration as timothy geithner told cnbc, bring it on. >> is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. >> taxpayers might think that's easy for geithner to say. what about all those middle class families whose tax will go up more than $2,000 if, as geithner suggests, we...
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. >> so a lot of democrats are saying that no big deal if you go over the fiscal cliff. it seems like republicans are moving towards giving in on the tax rates. might even just vote on the tax portion of the negotiations and kick the rest into january to deal with. if you get a deal on the taxes that president obama seems like he would sign, what happens to the government on the second half of the cliff, the sequester and other extenders? you were at omb. can the government deal with that? can we be okay? >> there's a lot of ifs. republicans don't want to raise taxes on the middle class. they want to pass a bill to prevent increase on rates on the middle class. that would be a good thing. if we got past january 3rd and the sequester went into effect, there are a ways to move through money in accounts where you can buy a few weeks. that's an important thing to do. now don't get me wrong. there would still be a huge impa impact. i don't know what the markets would do. wall street is in a mind if we go past january 3rd, we will fall off the cliff. and secondly, there are pe
. >> so a lot of democrats are saying that no big deal if you go over the fiscal cliff. it seems like republicans are moving towards giving in on the tax rates. might even just vote on the tax portion of the negotiations and kick the rest into january to deal with. if you get a deal on the taxes that president obama seems like he would sign, what happens to the government on the second half of the cliff, the sequester and other extenders? you were at omb. can the government deal with...
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speaking of the fiscal cliff, there has been all this focus on one dangerous man who stands in the way of a deal that could avert it. grover norquist is neither elected nor has he ever run for office, so why is washington so scared of him? >> taxes went up, spending didn't go down. >> he's been called a kingmaker, a patriot, and the ideological godfather of the tea party. since the mid'80s, grover norquist, the founder of americans for tax reform, has been the driving force behind the anti-tax movement. his goal, to take big government and in his words, drown it in the bathtub. norquist's weapon is the taxpayer protection pledge, which was at one point signed by 95% of gop members of congress. >> you raise your hand if you feel so strongly about not raising taxes. >> reporter: on the campaign trail this year, only one republican presidential candidate, jon huntsman, dared to cross him. norquist has clout. he's called the most powerful unelected man in america today. but since the november election, his fortunes have changed. >> i will violate the pledge. >> a pledge you sign 20 years a
speaking of the fiscal cliff, there has been all this focus on one dangerous man who stands in the way of a deal that could avert it. grover norquist is neither elected nor has he ever run for office, so why is washington so scared of him? >> taxes went up, spending didn't go down. >> he's been called a kingmaker, a patriot, and the ideological godfather of the tea party. since the mid'80s, grover norquist, the founder of americans for tax reform, has been the driving force behind...
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known as the fiscal cliff. >> president obama is sending tim geithner to the hill today to meet with multiple congress ohhal leaders. i want to bring in senator john barrasso, republican from wyoming. senator, good to see you. good morning. >> thanks for having me. >> let's begin with something that's been reported on by the wall street journal. which is something we heard a couple days ago. the fact that the president now appears to be flexible when it comes to the top 2%. quote, president obama signalled he wouldn'tnsist tax rates on upper income americans rise to clinton era peaks as part of a deficit reduction deal. the white house's flexibility first described by democrat erskine bowles after meetings with mr. obama and others confirmed by administration officials could envision tax rates increase from their current levels but less than clinton era levels. would you agree to a deal, senator? call it in the middle. 37%. >> well, the problem with that is raising those tax rates on those folks really doesn't address the major problem which is the spending that's going on. >> let me
known as the fiscal cliff. >> president obama is sending tim geithner to the hill today to meet with multiple congress ohhal leaders. i want to bring in senator john barrasso, republican from wyoming. senator, good to see you. good morning. >> thanks for having me. >> let's begin with something that's been reported on by the wall street journal. which is something we heard a couple days ago. the fact that the president now appears to be flexible when it comes to the top 2%....
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. >>> back to our conversation on the so-called fiscal cliff. the debt reducing tax hikes and federal spending cuts coming january 1st unless congress and the president act. so now both sides have offers on the table, the democrats' plan which would focus debt reduction on higher tax rates for the wealthiest 2%. house republicans, they anted up yesterday with a plan to cut the debt through tax code and spending reforms, not through higher tax rates for the wealthy. if there is no agreement, you know the deal, everyone, everyone's taxes go up. representative tom price of georgia joins me now from capitol hill. he is a hard line republican. congressman, good to see you. thanks for coming on. >> yes, thank you so much. good to be with you. >> the republican plan published yesterday, it is note worthry, congressman price, it would raise more money through the tax system this and is a pretty big departure for your republican party. i just want to know, do you support this proposal put forward by the speaker of the house? >> well, this proposal is jus
. >>> back to our conversation on the so-called fiscal cliff. the debt reducing tax hikes and federal spending cuts coming january 1st unless congress and the president act. so now both sides have offers on the table, the democrats' plan which would focus debt reduction on higher tax rates for the wealthiest 2%. house republicans, they anted up yesterday with a plan to cut the debt through tax code and spending reforms, not through higher tax rates for the wealthy. if there is no...
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cliff, that difference between tax rates for the wealthiest americans. and what house democrats announced they're going to try to do is an end run around the house gop to try to file a petition in order to try to push a vote on the house floor to just raise taxes -- excuse me, to just extend the bush-era tax rates for middle class americans. but to do that, as you know, they need 218 votes and there's still a very sizable republican majority in the house. it will be difficult for democrats to do that. >> absolutely. and that proposal to take away what has been historically a congressional prerogative was a little bit surprising even to people who have been reading about this stuff for years. is it true though, dana, as it has been in past years that both sides at least have to show their bases that they're fighting the good fight and that's part of what's going on here? >> reporter: absolutely. there's no question about it. what i mention in the piece really is a real phenomenon here when it comes to the feeling among congressional democrats that they ar
cliff, that difference between tax rates for the wealthiest americans. and what house democrats announced they're going to try to do is an end run around the house gop to try to file a petition in order to try to push a vote on the house floor to just raise taxes -- excuse me, to just extend the bush-era tax rates for middle class americans. but to do that, as you know, they need 218 votes and there's still a very sizable republican majority in the house. it will be difficult for democrats to...
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in 2013 if we fall off the fiscal cliff, dividends will be taxed at ordinary income rates so your rate on your investments is going to go up depending on your tax bracket, that means 15%, 28%, 31%, 36% or 39.6%. so the rate on your investment income could be more than double what it is right now for middle and high income earners. other companies that have paid out their dividends early, walmart, costco, dillard's -- >> so they are preparing for this? >> oh, yes. they're getting the money out early so their investors don't pay higher taxes on it. >> what is the one thing we need to know about our money today? >> ho, ho, ho, december has been the best month for stocks over the past 30 years. december has been the santa claus rally they call it. when investors square their portfolios, they close out their positions, could the fiscal cliff talks in washington kill santa claus? another reason to be mad at your policymakers. december should be a good month. it historically is. >> all right, thank you. 27 minutes past the hour. every time you send a text message it could soon be recorded. it
in 2013 if we fall off the fiscal cliff, dividends will be taxed at ordinary income rates so your rate on your investments is going to go up depending on your tax bracket, that means 15%, 28%, 31%, 36% or 39.6%. so the rate on your investment income could be more than double what it is right now for middle and high income earners. other companies that have paid out their dividends early, walmart, costco, dillard's -- >> so they are preparing for this? >> oh, yes. they're getting the...
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cliff and also they feel like think eve kind of got republicans in a corner because these income tax rates are set to increase in everyone at the end of the year and kind of hold that over their heads. now, at the same time, obviously, the issue here continuing to be tax rates and the white house really wants to deal with that. increase tax rates on the wealthy and then they want to deal with tax reform, entitlement reform later. somehow maybe link them but deal with that later and so they're really drawing this line in the sand as you heard timothy geithner say that the tax rates need to go up for wealthy americans. >> there's a strategy here. so, anna, republican strategist, why aren't republicans offering their own plan in return? isn't that how you negotiate? >> i think first they wanted to see what the president puts on the table. they have seen it. they don't like it. it doesn't have cuts in spending and entitlement reform. they want that. but i think what we're watching right now and see it for the next few days play out, a lot of posturing. this is a game of chicken. who's go
cliff and also they feel like think eve kind of got republicans in a corner because these income tax rates are set to increase in everyone at the end of the year and kind of hold that over their heads. now, at the same time, obviously, the issue here continuing to be tax rates and the white house really wants to deal with that. increase tax rates on the wealthy and then they want to deal with tax reform, entitlement reform later. somehow maybe link them but deal with that later and so they're...
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starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will be hurt the most. here's why. >> this single issue has a seismic affect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences, domestically and around the world, not the least of which will be the level -- the fracturing of confidence i
starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people,...
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of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even though they haven't been so strong throughout the rest of the country, companies like general motors continue to push ahead with these vehicles. here is their newest introduction, which will be on the market in 2014. only available for sale in california and in oregon initially. this is the chevy spark. it is an all electric vehicle that will get somewhere south of 100 miles on a full charge. what's really cool about this vehicle is you'll be able to charge it up to 80% capacity in just 20 minutes. that is a challenge, though, getting the rest of america outside of places like california to buy these ve
of course, if the fiscal cliff does come to be and the economy slows or dips back into recession, things will really slow down. what automakers are doing is continuing to push the sales of smaller cars, which is what the public wants, because tgas prics are rising. sales of these types of vehicles do real well in places like california where people drive long distances and where a lot of people are very concerned about the environment and want to drive hybrid or electric vehicles. so even...
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. >>> starbucks' ceo howard schultz has some sobering advice to offer on that looming fiscal cliff. he says consequences will be far worse than last year's debt ceiling fight, when the u.s. credit rating was downgraded for the first time ever. if a deal is not reached, he told our poppy harlow, the ripple effect will be felt worldwide. >> this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences, domestically and around the world. >>> take a minute to come over to your tv, if you can. penn state has another pr problem on its hands this morning. the university's kai omega sorority is being investigated for stereotyping latinos after a picture showed up on the site tumblr. the photo showed sorority members wearing fake mustaches and dressed in somberos while holding signs that say, "i don't cut grass, i smoke it." the president of the chapter has apologized. is that enough, soledad? >> ladies, as your multi-ethnic friend, let me help you. help me help you
. >>> starbucks' ceo howard schultz has some sobering advice to offer on that looming fiscal cliff. he says consequences will be far worse than last year's debt ceiling fight, when the u.s. credit rating was downgraded for the first time ever. if a deal is not reached, he told our poppy harlow, the ripple effect will be felt worldwide. >> this single issue has a seismic effect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome...
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house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. and it's unfortunate that the white house has spent three weeks doing basically nothing. >> i know what you heard there. but treasury secretary geithner said he does believe a deal can be reached by the end of the year. >>> member of the u.s. coast guard is dead after a suspicious boat rammed his small boat off the coast of southern california. chief petty officer terrell thorn was one of two coast guard members thrown off on impact. he suffered a traumatic head injury. the other coast guardsman was treated at a local hospital. coast guard says the suspicious vessel was intercepted, and the two people were detained. >>> we could find out later this morning if the supreme court will wade into the controversial issue of same-sex marriage. the court releases its orders list at 9:30 eastern time. and there is a possibility justices will hear cases that challenge th
house in order without those tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. and it's unfortunate that the white house has spent three weeks doing basically nothing. >> i know what you heard there. but treasury secretary geithner said he does believe a deal can be reached by the end of the year. >>> member of the u.s. coast guard is...
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house in order without the tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. and it is unfortunate that the white house spent three weeks doing basically nothing. >> now, the republican counterproposal that we just heard about still includes those bush era tax cuts staying in place for everybody, which president obama has called a nonstarter. so what if we raised taxes a little bit? still be much lower than what americans paid just a generation ago. in 1980, the wealthiest americans paid a marginal tax rate of 70% of their income to uncle sam. now, tax reform under president reagan reduced that rate to 50% and in 1981, and closer to current levels in 1986. today, president obama wants to let the bush era tax cuts expire for wealthy americans only, taking up their marginal federal tax rate from 36% to 39.6%. we're talking about a 3.6 percentage point uptick for households making more than $250,000 a year, only on every dollar they make a
house in order without the tax rates going back up. >> nobody wants to go over the cliff. that's why the day after the election i tried to speed this process up by making the concession to put revenues on the table. and it is unfortunate that the white house spent three weeks doing basically nothing. >> now, the republican counterproposal that we just heard about still includes those bush era tax cuts staying in place for everybody, which president obama has called a nonstarter. so...
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cliff. also president obama's getting ready to speak this hour about an urgent national security issue. u.s.-led efforts to try to track down and eliminate loose nuclear weapons. that's coming up. >>> also, frightening now revelations about an al qaeda plot for a three-part terror attack on the united states embassy in iman, jordan. i'll ask the country's foreign minister for details. he's standing by live. i'm wolf blitzer. you're in "the situation room." >>> we begin this afternoon with brand-new republican offers to try to save the $2.2 trillion and avoid the so-called fiscal cliff. the across-the-board spending cuts and sharp tax increases that hit in just 29 days. let's get straight to our senior congressional correspondent dana bash. she's watching what's going on. dana, the tax rates, first of all, let's get to a major sticking point right now. there's been a counterproposal from house republicans to the white house. you have details. >> reporter: that's right. let's start exactly whe
cliff. also president obama's getting ready to speak this hour about an urgent national security issue. u.s.-led efforts to try to track down and eliminate loose nuclear weapons. that's coming up. >>> also, frightening now revelations about an al qaeda plot for a three-part terror attack on the united states embassy in iman, jordan. i'll ask the country's foreign minister for details. he's standing by live. i'm wolf blitzer. you're in "the situation room." >>> we...